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Herman Miller Completes Acquisition of Knoll Inc.
2021-07-20

            Herman Miller announced that it has completed its previously announced acquisition of Knoll, Inc. creating the preeminent leader in modern design. The combined company comprises 19 leading brands, a presence across more than 100 countries worldwide, a global dealer network, 64 showrooms, more than 50 physical retail locations, and global multichannel eCommerce capabilities.

            The combined company will move forward as MillerKnoll. Herman Miller and Knoll, along with their legacy brands, will continue as distinct brands as part of MillerKnoll. In addition, MillerKnoll will have a new operating model that will ensure strong brand ownership - transforming the industry and redefining modern design.

            "The closing of this transaction is the first step to realizing the great benefits of this combination, and I want to thank the teams at Herman Miller and Knoll for their incredible efforts which enabled us to reach this milestone," said Andi Owen, President and Chief Executive Officer of Herman Miller.

"We are especially pleased to have completed the transaction quickly, which allows us to swiftly begin taking advantage of the strengths of the combined company. We are a group of people and brands guided by a shared vision, common values, and a steadfast commitment to design.

"Together, we can be truly inclusive, design for everyone, and care for our planet. With a broader portfolio, scaled global footprint, and advanced digital capabilities, we will be poised to meet our customers everywhere they live and work."

            The combined company will be led by Herman Miller President and CEO Andi Owen. In addition to Owen, the combined company will be led by a world-class management team made up of executives from both Herman Miller and Knoll.

            Among other properties, MillerKnoll, Inc. will take ownership of a 735,000-square-foot manufacturing and warehouse facility in Upper Hanover Township.

            Knoll shares ceased trading prior to the stock market open on Tuesday, July 20, 2021, and each share of Knoll common stock has been converted into the right to receive 0.32 shares of Herman Miller common stock and $11.00 in cash. The completion of the transaction results in Herman Miller shareholders owning approximately 78 percent of the combined company and Knoll shareholders owning approximately 22 percent of the combined company.


 

 

 

 

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